Volue, a leader in technologies and services that enable its customers to succeed in the energy transition, has announced the launch of Volue Smart Power. This next-generation software solution will automate power production planning and short-term trading in the power markets.
As the penetration of renewable energy sources increases, power production planning and trading become more challenging and volatile. Volue Smart Power was developed to provide power producers with a platform to meet these challenges of the future head-on.
By automating and optimizing the production planning and short-term trading process, Volue’s Smart Power software suite contributes to increased revenues for power producers. Customers can optimize the use of hydro, thermal, wind, solar, and batteries to maximize profits and provide enhanced decision-making support for trading processes.
The software uses Volue Mesh, a fully flexible object-based data model. Data modeling with Mesh gives context to data; making it available, maintainable, and accessible. Volue Mesh provides APIs allowing users to integrate and develop their own applications that use the object-based data model.
The Volue Automation Framework enables event-driven automation of business processes for production planning and trading. This contributes to increased profitability of production assets and frees up time to focus on market opportunities.
The Smart Power software suite integrates seamlessly with Volue’s trading solutions, allowing users to connect the assets to the relevant European physical power markets.
Trond Straume, CEO at Volue, said: “We fully understand and appreciate that automation of optimization and trading processes are key if power producers are to stay competitive. To support that further, the platform’s ability to ensure optimal use of power portfolios will deliver increased resource efficiency, illustrating our strong focus on sustainability.
“With increasingly weather driven markets, the task of managing, planning, and trading power becomes more complex and unpredictable. Volue Smart Power offers a solution by optimizing your power portfolio and integrating it with Volue’s trading applications for bidding and trade execution in the various power markets, leading to improved efficiency and increased profits.
“Our latest offering automates the complete end-to-end process of optimizing, planning, and trading power, empowering our clients to fully leverage their assets in what have become increasingly mercurial power markets. This is our biggest development project to date and is the culmination of years of hard work, working together with some of Europe’s leading power producers. We now look forward to rolling this one-of-a-kind solution out to existing and new customers.”